Exact(12)
Nonetheless, in the US, savings are undoubtedly a factor for the government.
The escalating crisis in the global financial system has claimed its biggest victim yet with the collapse last night of the US savings and loan group, Washington Mutual.
But starting around 2004, they started following the same dangerous path as the the tiny US savings and loans companies in the 1990s, which gorged on mortgage lending.
Tuckerman's father was a leading Boston merchant, founder of the first US savings bank, and eminent in many areas of civic life.
The move - which does not involve the company issuing any new share capital but is designed to boost its presence in the US savings market - follows a number of positive developments in recent days.
The US savings rate, which had been range-bound between 7.5% and 15% during the '60s and '70s, now stands at just 5.8%.
Similar(45)
As long as the rest of the world is willing to lend us their savings so cheaply, we'd be wise to use it to rebuild our crumbling infrastructure and our schools and parks -- and thereby put more Americans back to work -- rather try to cut the deficit too much and too soon.
That is why the initiative by Amref to help us develop savings and credit associations may help so much.
So in that sense, Ezra Klein is right: cutting private health insurance's profits and administrative costs is not going to give us the savings we need to bring health-care costs into line.
For most of us, those savings will be directed toward mortgage payments.
This would give us additional savings of $50 million on transportation and taxes.
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